Company will take a fourth quarter charge of $500,000 due to a 12% reduction in its 1,200-member workforce through terminations and attrition, firm announces Dec. 19. Personnel cuts, which do not target any particular segment or division, are part of a new plan to increase operating efficiencies and reduce overhead. Hauppauge, N.Y.-based company also is streamlining and consolidating administration and operations for its catalog and direct-sales divisions. "Modest" price increases in 2001 on approximately 10% of Twinlab products also should be expected, Twinlab tells its distributors. The firm is currently facing shareholder lawsuits stemming from sales declines and inventory discrepancies (1"The Tan Sheet" Dec. 4, 2000, In Brief)
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Advanz Pharma would have had to show that the European Commission’s decision to revoke Ocaliva’s conditional marketing approval risked causing serious and irreparable harm, according to lawyers from Van Bael & Bellis.
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